Cummins India Ltd. Stock Declines by -3.0% on October 23, Rated as 'Hold' by MarketsMOJO

Oct 23 2024 02:35 PM IST
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Cummins India Ltd., a major diesel engine manufacturer in India, experienced a -3.0% decline in stock price on October 23, 2024. MarketsMojo has rated the stock as 'Hold' due to its underperformance in the sector and consecutive 3-day decline of -7.32%. However, the stock remains above the 200 day moving average and is a significant player in the Indian market.

Cummins India Ltd., a leading manufacturer of diesel engines in India, has seen a decline in its stock price by -3.0% on October 23, 2024. This has been reflected in the stock call given by MarketsMOJO, which has rated the stock as 'Hold'.

The stock has underperformed the sector by -1.56% and has been on a consecutive fall for the last 3 days, with a total decline of -7.32% during this period. On the same day, the stock touched an intraday low of Rs 3433, showing a decrease of -3.06%.

While the stock's performance today has been lower than the sector, it is still higher than the 200 day moving average. However, it is lower than the 5 day, 20 day, 50 day, and 100 day moving averages.

In comparison to the Sensex, Cummins India Ltd.'s 1 day performance has been -3.08%, while the Sensex has only seen a decline of -0.07%. Similarly, the 1 month performance of the stock has been -11.24%, while the Sensex has only seen a decline of -5.61%.

Despite the recent decline in stock price, Cummins India Ltd. remains a largecap company in the diesel engine industry. As a leading manufacturer, the company continues to play a significant role in the Indian market. This information is based on facts and does not include any external data or sources.
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